Macquarie Group chairman Glenn Stevens says the investment bank’s board will hold management’s “feet to the fire” over a series of compliance and risk management failures that have damaged the group’s reputation for prudence and resulted in a pay cut for its top executive.
On Friday, Stevens directly addressed a series of sanctions imposed on Macquarie by the corporate regulator over the past 18 months as the bank released a solid annual result and said it remained confident it could negotiate global uncertainty affecting markets.
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